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Browse: Home / 2008 / December / 16 / Sen. Dodd Seeks Explanation from SEC for Failure to Detect Madoff Scheme

Sen. Dodd Seeks Explanation from SEC for Failure to Detect Madoff Scheme

By Securities Docket on December 16, 2008, 11:59 am

Sen. Christopher Dodd

Senate Banking Committee Chairman Christopher Dodd is seeking an explanation from the SEC as to why it failed to detect Bernard Madoff’s $50 billion Ponzi scheme. Bloomberg reports that Dodd has requested information from the SEC about the case.

Dodd’s spokesperson, Kate Szostak, stated yesterday that “Senator Dodd is concerned not only about the people caught up in this reported scheme who may have been misled, but how such a massive fraud could have gone undetected.”

Read the Bloomberg article

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Posted in SEC | Tagged Features, Financial Fraud, Madoff, US Congress

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